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Greek debt crises: The European Stability Mechanism money started flowing – to creditors, not to Greece 8 September by Bodo Ellmers The Greek bailout saga entered a new round as the first tranches of the new loan package were disbursed. The €86 billion programme will be funded by the European Stability Mechanism (ESM). The International …

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New York, 2 September by Zoe Konstantopoulou. Zoe Konstantopoulou’s speech was given during the Fourth World Conference of Speakers of Parliament on 2nd September in New York. Sovereign debt is being used against the Greek population and the Hellenic Parliament to reduce Democracy. But Democracy is an ultimate value. Ladies and gentlemen, Speakers of the …

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Posted by CADTM on 24 July by Daniel Munevar , Thomas Fazi Daniel Munevar is a 30-year-old post-Keynesian economist from Bogotá, Colombia. From March to July 2015 he worked as a close aide to former Greek finance minister Yanis Varoufakis, advising him on issues of fiscal policy and debt sustainability. He was previously fiscal advisor …

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In order to stay in the Eurozone, the Greek Prime Minister Alexis Tsipras accepted to make almost the same proposals that were rejected during the Greek Bailout Referendum of 25 June 2015. In spite of this, these are the comments of the Minister of Finance of Germany, Wolfgang Schäuble, to the proposal of the Greek government.

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By Julia, PACD collaborator The Debt Audit gamble is key to understanding the outcome in Greece The media, with their chauvinist and neoliberal stereotypes, have focused almost exclusively on Varoufakis to explain what was happening in Greece. It is always easier to build a myth than try to explain the complexities of the situation and …

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By Diego Borja Cornejo* The Greek Prime Minister, Alexis Tsipras, has called a referendum so that it will be up to the Greek people to decide if the austerity demanded by the Eurogroup is to continue. Tsipras took this decision after several months of negotiating with a European Union, a European Central Bank and an …

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Today, July the 8th Greece has introduced a new proposal for an agreement for its third bailout, in the European Parliament. It would be a 3 years stability bond, that would be used to pay their compromises to all creditors. There are no details, and it does mention neither debt relief nor restructuring.

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The beautiful historic victory of the No shows again that the Greek citizens refuse to accept the creditors’ blackmail. As shown in the preliminary report by the Truth Committee on Public Debt created by the Hellenic parliament, there are several legal arguments that permit a State to unilaterally suspend or repudiate its illegal, odious, and …

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This post was originally published in Yanis Varoufakis’ Blog The referendum of 5th July will stay in history as a unique moment when a small European nation rose up against debt-bondage. Like all struggles for democratic rights, so too this historic rejection of the Eurogroup’s 25th June ultimatum comes with a large price tag attached. …

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05/07/2015, 23:30 – Press release 556/15 – Euro area: Economy & finance I take note of the outcome of the Greek referendum. This result is very regrettable for the future of Greece. For recovery of the Greek economy, difficult measures and reforms are inevitable. We will now wait for the initiatives of the Greek authorities. The Eurogroup will discuss the …